The General Electric (GE) Group will be investing for a new greenfield facility which will be located in Chakan near Pune. This investment would cost around Rs 1,000 crore. This is part of the company’s expansion project aiming to improve their production and at the same time for them to offer their service easier and faster.

GE – General Electric

The memorandum of agreement was signed with representatives from the Maharashtra Government and it was followed by a ground breaking ceremony at the site. This plant aims to create localized products that will be cheaper for compared to their products that came from other countries.

The new plant is expected to start its operation within the third quarter of the year 2013. Another good thing with this new plant is the generation of employment opportunities for people who are jobless. It will need around 2,000 employees to run the plant according to Mr John Rice, Vice President of GE.